|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2024 is a turbulent year for the crypto industry. The launch of Bitcoin spot ETFs, the accelerating institutional adoption, the industry boom brought about
2024 was a year of great change for the crypto industry. Many things happened in the crypto market. Changes in the industry structure and fluctuations in market sentiment are shaping the unique industry landscape of this year.
Bitcoin performed particularly well this year, with a price increase of more than 110%, highlighting the unique charm and potential of cryptocurrency as an emerging investment field.
At the beginning of the year, the U.S. Securities and Exchange Commission (SEC) approved the listing application of the first Bitcoin spot ETF. This milestone decision marked the official entry of crypto assets into the mainstream financial market. Funds poured in like a tide, pushing the price of Bitcoin to a record high in March. The enthusiasm of institutional investors and the high recognition of the market laid a solid foundation for the prosperity of the cryptocurrency market throughout the year.
At the end of April, Bitcoin ushered in the fourth halving event in history, which once again highlighted the unique status of Bitcoin as a scarce asset. Although the market did not continue to strengthen after the halving, but entered a correction period after May, historical data shows that the supply reduction effect brought about by the halving cannot be ignored in the long-term promotion of Bitcoin prices, and has become an important catalyst for market optimism in 2024.
Around the middle of the year, the crypto market began a painful adjustment period. Affected by multiple factors such as global macroeconomic uncertainty, geopolitical conflicts and the German government's sell-off, market volatility intensified, and major market indicators fell sharply from the highs in the first half of the year. Altcoins even fell to the lows of the bear market. The industry faced a difficult period and skepticism arose.
During this period, the listing of Ethereum spot ETF brought a glimmer of hope to the market, but failed to replicate the rise of Bitcoin ETF. Ethereum and its ecosystem, which were highly expected, led the decline. When market sentiment was low, Meme coin emerged with its unique value capture model and community consensus, becoming an emerging track with a market value of over US$100 billion, triggering in-depth discussions on its core value in the industry.
In September, the global financial market ushered in a major turning point. The Federal Reserve cut interest rates for the first time in four years, forcing major central banks around the world to follow suit and release money, and the world entered a relatively loose monetary policy environment. The interest rate cut cycle is often closely related to the rise in risky asset prices. After a period of downturn, the confidence in the crypto market began to boost. The trading volume and the total supply of stablecoins showed signs of recovery to a certain extent, and the market funds and activity have recovered.
The fourth quarter was a historic moment for the crypto market. During the US election, the topic of cryptocurrency took center stage on the US political stage for the first time. The Trump team’s explicit commitment to promote a more friendly regulatory framework greatly stimulated market sentiment, and the “Trump trade” continued to heat up and continued to ferment after his victory.
Since then, Trump has successively appointed crypto supporters as heads of various departments, such as the Secretary of the Treasury, Secretary of Commerce, Chairman of the SEC, leader of the Department of Government Efficiency, and head of cryptocurrency affairs, and promoted the Bitcoin Strategic Reserve Plan in various states, stimulating the price of Bitcoin to rise steadily and break through the $100,000 mark for the first time in history. Bitcoin and other cryptocurrencies have not only achieved a leap in value at the economic level, but have also gained unprecedented recognition and attention at the political and social levels.
On January 20, 2025, the United States will hold the presidential inauguration ceremony, and Trump will officially take office. Compared with the Biden administration, the new administration led by Trump is more friendly to the crypto market. The increasingly open and transparent regulatory environment will provide broad imagination space for the future of the crypto market, and the market is highly concerned and looking forward to it.
1. Promotion of the Bitcoin Strategic Reserve Plan
Trump's idea of "US Strategic Bitcoin Reserve" is undoubtedly one of the most noteworthy focuses in 2025. If Bitcoin obtains strategic reserve status, it will achieve a gorgeous transformation from a niche market asset to a public asset of the treasury, and its legitimacy and recognition will be greatly improved. As a strategic reserve asset, Bitcoin will fight side by side with traditional assets such as gold and foreign exchange reserves to provide protection for national economic stability and financial security.
Trump has repeatedly raised the idea of establishing a national Bitcoin reserve during his campaign, and recently hinted at the creation of a Bitcoin reserve in an interview at the New York Stock Exchange. Whether this ambitious proposal can be implemented in the short term remains to be seen, but it is expected to be actively promoted in 2025. Any remarks by Trump suggesting that this plan is being promoted will bring obvious upward support
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
-
- Which Is the Best Crypto to Buy: Dogecoin, XRP, or DTX?
- Dec 26, 2024 at 01:15 am
- A top crypto expert, Ali Charts, has identified a recurring pattern that pushed Dogecoin (DOGE) to new peaks in previous cycles. The analyst noted that DOGE has completed the first two steps and could skyrocket anytime from now.
-
- Check Out the Top Three News Stories Over the Past Day
- Dec 26, 2024 at 01:15 am
- XRP price turns bull green on Christmas Eve
-
- The chief executive of the digital asset analytics firm CryptoQuant thinks a national strategic Bitcoin (BTC) reserve could offset US debt.
- Dec 26, 2024 at 01:15 am
- Ki Young Ju tells his 389600 followers on the social media platform X that $790 billion in realized capital inflows have ballooned Bitcoin's
-
- Russian Companies Using Bitcoin (BTC) to Skirt Sanctions
- Dec 26, 2024 at 01:15 am
- Russia's Finance Minister Anton Siluanov recently confirmed that Russian companies use Bitcoin (BTC) for international trade. Following legislative changes introduced by the government earlier this year, firms have turned to Bitcoin as a way to bypass sanctions.
-
- Russia May Use Bitcoin (BTC) and Other Digital Assets to Settle International Transactions
- Dec 26, 2024 at 01:15 am
- Cryptocurrency adoption has been on a high worldwide. Not only are investors now more than ever adding digital assets to their funds, but Governments are also beginning to see its potential as an internationally traded currency.
-
- Russia Experimenting With Digital Financial Assets (DFA) in Foreign Trade, Bitcoin (BTC) Included: Finance Minister
- Dec 26, 2024 at 01:05 am
- Russia has been actively experimenting with digital financial assets (DFA) in foreign trade in line with the country's legislation, according to a senior government official.